In 1998, Indonesia suffered a severe financial crisis that led to a dramatic fall in the value of its currency, the rupiah. The crisis was caused by a number of factors, including political instability, a reliance on volatile short-term foreign loans, and a fall in global commodity prices. As a result, the Indonesian economy went into free fall, with the rupiah losing more than 80% of its value against the US dollar.
Thankfully, Indonesia was able to recover from the …